Finalizing your mortgage
Finalizing the last details to homeownership
You shopped, you compared, you toured many homes. You took all the right steps to ensure that you could buy the house of your dreams with confidence. You put in an offer and it was accepted along with your terms and conditions. Now, the only thing between you and your new home is the finalization of your mortgage. The Meridian mortgage team is here to guide you through the remaining steps and finalize all the important details before you take ownership of your new home.
We work with your realtor
Once your offer is accepted, your realtor will prepare the official paperwork needed to finalize your mortgage. Then they will give us the details we need, including the agreed purchase price and all conditions of the sale.
We work with your lawyer
During the application process you provided the name of your lawyer or notary. This information, plus the details we get from your realtor, helps us write up all the paperwork we'll need to make sure the transaction is seamless. This includes making sure that the information in your application is still up-to-date and confirming if you need a final credit score report if it's been a while since you first applied for your mortgage.
We review all the details
Your mortgage documents get written and reviewed by you and your Mortgage Specialist. These will include:
- Loan amount
- Monthly costs
- Terms of the loan
- Penalties for early renewal
- Prepayment options
Then, you meet with your lawyer/notary (and any co-borrowers) to review and confirm the details of your mortgage. Once you have answers to all of your questions and you've reviewed the details of your mortgage, you will sign and initial the documentation, it will be returned to us, and the mortgage is final. With the paperwork complete, you're ready to start an exciting new chapter in your life and you can start planning the move into your new home.